There are new reports that two Brazilian football teams, Atlético-PR and Corinthians, have a joint partnership with Hong Kong-based crypto startup Inoovi, which just launched its “IVI” token, particularly for the sport.

Local news outlet Portal do Bitcoin claims that the president of Atlético-PR’s Deliberative Council, Mario Celso Petraglia, announced the partnership this week, revealing it is as “innovation in Brazil’s sports market.”

According to the news outlet, the partnership provides Atlético-PR a 1-year grace period to begin using the IVI token and promote Inoovi by adding its name to the team’s uniform and website, while urging the team supporting it to use the token.

After the 1-year grace period, the club and the company behind it are ready to start using the cryptocurrency in dialogs, to pay for salaries, and other costs. Petraglia confirmed the club is getting paid for the partnership but says it was merely sufficient to launch a promotional campaign.

He cautioned, however, that the cryptocurrency space remains in its early stage, and request those present at a press conference be patient, as not everyone gets to easily comprehend how cryptocurrencies work. He stated:

“Cryptocurrencies have been gaining value and we have no doubt about that. I, in particular, will be part of [those who] purchase this currency as an investment for my personal savings and recommend it to everyone.”

When questioned regarding the possible gains the deal will provide, Petraglia noted he plans to change the club using them. Inoovi’s chief executive officer and president Loic Lacam, who also attended the press conference, explained the company will support the club while it is starting to use cryptocurrencies.

It is important to note that Atlético-PR’s lawyer, Marcelo Amoretty announced that Corinthians, another Brazilian football club, is already in a deal with the cryptocurrency startup. He added that a few European clubs, such as Besiktas, Fenerbahce, Galatasaray, and Shakhtar Donetsk are discussing with Inoovi but are yet to strike an agreement.